Hollande Minister’s Mittal Nationalization Call Sparks Furor
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French Industry Minister Arnaud Montebourg sparked a furor by calling for the nationalization of a troubled local unit of ArcelorMittal, the world’s largest steelmaker.
ArcelorMittal Chief Executive Officer Lakshmi Mittal is scheduled to meet today with French President Francois Hollande after Montebourg told Les Echos yesterday that “we don’t want Mittal in France anymore.” Montebourg accused the Indian CEO of going back on his word to protect jobs and said the company’s Florange site in north-eastern France should be under temporary state control.